Cryptocurrency Daily Discussion - April 26, 2021 (GMT+0) |
- Daily Discussion - April 26, 2021 (GMT+0)
- No, Georgia did not pass a bill to teach highschool students about cryptocurrency.
- Can I just win for once in my life?
- For the love of god, send a dummy transaction before sending your whole stack.
- Mark Cuban the Next Billionaire to Go All in on Bitcoin: ‘The Number of People Who Own It Could More Than Double’
- There's no "Currency" Left in Cryptocurrency, and There Hardly Ever Was
- Popular or unpopular opinion: People who say they wish that it would’ve dipped more are annoying.
- Anyone else got majorly addicted to checking your phone every 10 minutes when they just started with crypto?
- I bought $30 USDC of every coin pair on Coinbase. Going to hold for two years.
- Crypto community donates over $1.7 million in Ethereum and ERC20 tokens towards India's coronavirus fight
- VeChain Is Gaining Popularity as a Dual Crypto and Logistics Blockchain Solution.
- [Unpopular Opinion] Bitcoin is a pretty bad coin and if we talk about "fundamentals" it is highly overpriced
- Although I'm not an Elon fan but Tesla will release its first set of results since adding $1.5 billion worth of bitcoin to its balance sheet on Monday��
- Sh*tcoins like Safemoon are creating unrealistic expectations in the Crypto world
- As the Crypto world starts gaining some momentum again, stay safe. Don't use crazy amounts of leverage.
- DeFi Explained: Stablecoins
- Bitcoin Dominance Drops to 50% For The First Time in 33 Months
- PayPal CEO: Demand for Crypto has been multiple-fold of what we expected
- Alaska would be first state to use blockchain-based voting system under proposed bill - Alaska Public Media
- A guide to replacing your full time job with Reddit MOONs
- Unpopular opinion: people in here are as greedy as the banks they hate
- Advice to young people starting out in the space. 10 years is not what you think it is.
- As a 32 year old who has been posting in online forums since I was 9 or 10, the concept of Moons still blows my mind.
- Cardano and Stellar Lumens Hit Milestone As Swiss Investment Fund Launches New Crypto ETPs
- Unpopular opinion: I don't think holding on exchanges is that bad
- We're recovering from the dip in less than a week!
| Daily Discussion - April 26, 2021 (GMT+0) Posted: 25 Apr 2021 05:00 PM PDT Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer:Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:
Useful Links:[link] [comments]  | ||
| No, Georgia did not pass a bill to teach highschool students about cryptocurrency. Posted: 25 Apr 2021 12:19 PM PDT Someone made a thread with this article and a very clickbaity title to entice and get reactions and comments from all of you (obviously for Moon farming). It got to the frontpage with about 8k upvotes. If you read the article you will see that:
Easy conclusion: Georgia is not teaching students about Crytocurrency. People will upvote whatever makes them feel good even though a simple reading of the article and a small amount of critical thinking would make them at least question the way the headline was written. Let's be better :) [link] [comments]  | ||
| Can I just win for once in my life? Posted: 25 Apr 2021 02:06 PM PDT Lost my job due to covid. Haven't worked in over a year. Rejected from job applications because I'm either "overqualified" or not passionate enough about the work. Nobody wants to talk to me, friends haven't spoken to me in months. Living on the sofa in my parents house. Seeing a therapist. Got into crypto right at the ATH thinking this would be a big break for me and now that's crashing too. I just wanted to vent. I fucking hate my life right now. EDIT: Wow, that's a lot of positive messages all at once. Really wasn't expecting that, thank you all. Got more encouragement and support in the last 10 minutes from complete strangers than I have in the last few months! RIP inbox. I am reading every single comment, your advice is sincerely appreciated. Just the sheer number of overwhelmingly positive messages has given me a lot of hope. The trolls are pretty funny too, keep those coming! [link] [comments]  | ||
| For the love of god, send a dummy transaction before sending your whole stack. Posted: 25 Apr 2021 09:36 PM PDT Title. I have seen so many posts about people mistyping addresses and losing their crypto recently. I am posting this again before some dude inevitably does the same thing again. Paying fees twice is worth the peace of mind. If you're sending a small amount and it's a crypto with high fees (BTC, ETH), I'd either leave it on an exchange if it's there, wait until ETH 2.0 if it's ETH, or just send away if its so small that you won't get bummed out if you lost it. Anything else and there should be absolutely no excuse for you not to send a dummy transaction. [link] [comments]  | ||
| Posted: 25 Apr 2021 06:52 PM PDT
 | ||
| There's no "Currency" Left in Cryptocurrency, and There Hardly Ever Was Posted: 25 Apr 2021 09:01 PM PDT By percentage, what is your actual usage of any of these shitcoins for real economic exchange as a currency? And no, cashing out to fiat doesn't count. What real goods and services have you actually purcahsed with crypto? I'm gonna guess for the vast majority of you, it's pretty close to zero. Do the shitcoins you're holding have these properties, REQUIRED to function as a currency:
If it doesn't have those qualities, it's not money. So no, your transparent chain, premined, heavy inflation, huge fees per transaction, barely functional network, is NOT currency. They're gambling tokens, and you people have a gambling problem. You're not "revolutionizing paradigms," you're not "fighting the banks," you're not doing anything other than speculate on garbage which will never be used as an actual currency. And WHEN this bubble pops, and you lose 90% of your paper wealth, you will have deserved it for being equally as greedy as the banks you hate, but with a much higher level of ignorance than those parasites. Now downvote me. [link] [comments]  | ||
| Popular or unpopular opinion: People who say they wish that it would’ve dipped more are annoying. Posted: 25 Apr 2021 11:23 PM PDT Just got done reading a post in the daily and the person was wishing it would dip more so their buy order would get triggered. I'm not sure about you but I'm down 15-30% across all my portfolios from ATH. The past week has been an absolute bloodbath. If someone really wants to buy a coin then just do it. Most coins are still down at least 15% from ATH. So don't complain or worse yet wish that it would dip more. We get it, you're a crypto savant and only buy when the green line crosses the red line on the 236 hour MA or whatever other tea leave reading TA you do. Thank you in advance for not doing this anymore and do us all a favor and just buy now. [link] [comments]  | ||
| Posted: 25 Apr 2021 08:30 AM PDT I just started with crypto a month back and I just realized that my screen time for the past week was 13 hours on an average. Crypto market is just soo freaking addictive. I cant just put my phone down for more than 15 mins straight. And the fact that this market is open 24x7 365 certainly doesn't help either. I am simply loving it. Anyone else went through this stage when they started or should I be concerned about this? [link] [comments]  | ||
| I bought $30 USDC of every coin pair on Coinbase. Going to hold for two years. Posted: 25 Apr 2021 08:58 PM PDT I bought $30usd of every USDC paired coin on coinbase. I did add and extra $30 to ETH and $5 to ADA because I had extra USDC after fees. I purchased the coins on 04/24/21. Here is the status as of today. EDIT: I will donate 50% of the bag to charity after the two years. 4/24/2023 I will make a post to decide the charity. [link] [comments]  | ||
| Posted: 26 Apr 2021 01:38 AM PDT
 | ||
| VeChain Is Gaining Popularity as a Dual Crypto and Logistics Blockchain Solution. Posted: 25 Apr 2021 11:48 AM PDT
 | ||
| Posted: 25 Apr 2021 09:37 AM PDT Now, before the downvotes come, hear me out. Often times, we label Bitcoin as "the internet of money" or "digital gold", but I believe that Bitcoin as money is pretty much broken and the digital gold is not a fitting one.
So Bitcoin is slow and expensive to transfer, and as we have recently seen with the hashrate drops in China, it is highly centralized for a decentralized system. The only benefit that Bitcoin really has is first mover's advantage and brand name, which I believe that over time isn't really a real advantage. (Other point that I believe are worth mentioning that are not often mentioned in this sub)
It makes me a bit sad, since when I first heard about Bitcoin in the summer of 2016 I was really excited about it, since it mixed 2 of my big interests (Computer Science and money). But nowadays I'm more passionate about other projects that I don't want to mention in this post because I don't want this to be a shill post. Unfortunately, I think Bitcoin has deviated from what I believe is its best use case, being decentralized money, and since there seem to be no signs of going back to that path Bitcoin will just become a coin for speculation which I believe will lead it to failure in the long term [link] [comments]  | ||
| Posted: 25 Apr 2021 03:39 PM PDT
 | ||
| Sh*tcoins like Safemoon are creating unrealistic expectations in the Crypto world Posted: 26 Apr 2021 02:38 AM PDT I got into crypto a few months ago with the intent of making gains long term. I knew it wouldn't happen over night. Sure, I have made some gains since I got in... but not enough to make a difference in my life. That kind of thing takes time. Now comes along Safemoon and it's many MANY knockoffs. Everybody is now looking for the next get-rich-quick coin. It has created an impatient mentality in the space that is not good at all. People are dropping money they can't afford to lose on shitty coins that are just Safemoon clones... and they are losing. People need to understand that, while there are outliers, earning on an investment takes time. If you're the type person seriously asking 'When moon?' or 'When Lambo?'... then you need to rethink your view of cryptocurrency. Life changing wealth does not happen in an instant. [link] [comments]  | ||
| Posted: 26 Apr 2021 12:51 AM PDT We saw $7.6 billion in crypto long positions liquidated in one hour when the BTC market collapsed to 52k$ about a week ago. Corrections are bound to happen in the future as we are still early on crypto adaption. I hate to see people lose their savings in a blink, because they didn't manage their risk properly when entering a trade. I know this has been said many times in the past, but please stay safe and only invest what you can afford to lose on the markets, especially if you don't have too much experience in trading yet! [link] [comments]  | ||
| Posted: 26 Apr 2021 01:29 AM PDT Compared to the traditional stock market, the crypto market is extremely volatile. At the time of writing, we are in a bull run. During bull runs, profit can easily be made: You invest (in a coin you researched thoroughly) and wait for your profit to grow. But what if the bull run turns into a bear market? In what assets should you invest? This is where stablecoins come into play. Why stablecoins existStablecoins have different functions. We will discuss two of them below. Hedging against the volatility of the price of crypto coinsOne of the main arguments against cryptocurrencies is that the price is too volatile. investors who are against crypto believe that crypto coins can therefore not be used in daily life. Fortunately, stablecoins are here to counter that argument. Stablecoins can ensure that cryptocurrencies are accepted more quickly. It makes financial aspects like borrowing, saving and salary easier in the short term, at least that's the promise. Hedging against price fallsStablecoins are mainly used on cryptocurrency exchanges. It can be a way to hedge against exchange rate fluctuations. It works like this: Suppose the price of bitcoin is currently six thousand dollar. You expect the price to fall. At that time you can choose to exchange bitcoin for a stablecoin such as Tether. Will the exchange rate drop to five thousand dollar? Then you still have six thousand dollar in digital currency. If you expect bitcoin to rise again, you can then exchange the stablecoin for bitcoin again. Types of stablecoinsThere are many different types of stablecoins available to investors. below we discuss the most well-known stablecoins. TetherThe first Tether tokens were released on October 6, 2014 as a layer to the bitcoin blockchain. Back then under the name RealCoin. Tether is a cryptocurrency that reflects the value of the US dollar. The idea was to create a stable cryptocurrency that could be used as a digital dollar. With Tether investors can benefit from the advantages of blockchain technology, without the high price fluctuations that often prevent people from using, for example, bitcoin as a means of payment. Many exchanges offer USDT as a trading pair, allowing investors to buy many different cryptocurrencies directly with a currency that reflects the United States dollar (USD). Tether is often used as a kind of refuge for when things are going a bit less with, for example, the bitcoin or when the price fluctuations are once again gigantic. However, it should be emphasized that Tether is a centralized crypto coin. Although it works on the blockchain, not everyone can access the ledger. This means that investors cannot easily verify whether everything is going as promised. Instead, everyone is asked to have faith in the company behind the coin. This is quite ironic, because the whole idea of cryptocurrency was born precisely to solve the problem of centralization and trust. Many skeptics doubt whether Tether LTD actually has the same amount of dollars in their account as the amount tether coins that are in circulation. This doubt may have arisen due to a lack of transparency in tether. While the tether blockchain is public, Tether LTD's bank account is not. Tether has announced that indeed they do not only have dollars in the bank account. They say they also use bitcoin and ether as collateral. That doubt led to a disturbance in the force on October 15, 2018. The once so stable tether faltered because the price fell rapidly. The tether price dropped to 85 cents in a few hours and then recovered to a somewhat common price of 97 cents. USDCUSDC, or USD Coin, is a stable coin. As the name might suggest, the digital currency is pegged to the US Dollar. One USDC is worth one dollar and vice versa. The currency is still very new: it can only be traded since the beginning of October 2018. When news came out that this new coin, a collaboration between Center (a crypto platform backed by Goldman Sachs, one of the largest US investment banks) and Coinbase, was available, the price rose equally significantly. On October 15, 2018, 1 USDC price was $ 1.11. The exchange rate has now stabilized again and has fluctuated around the dollar limit. The USDC is fully backed by Dollars. That means that for every USDC in circulation, there is a physical dollar in stock at Circle (the company behind USD Coin). This reserve is reported regularly and transparently. TUSDA relatively new digital currency is TUSD (TrueUSD). Simply put, this is the transparent version of USDT, at least according to the developers. 1 TrueUSD equals 1 US dollar in this case too. However, unlike Tether (USDT), TrueUSD (TUSD) is less centralized. The platform behind the coin (the TrustToken asset tokenization platform) spreads the dollars to cover the amount of TUSD in circulation across multiple trust companies that have signed escrow agreements. Moreover, TUSD is more transparent by showing what is happening and where by means of statements. Each bill shows what is on the table, leaving no doubt about how much dollar is present. DAIMakerDAO (MKR), the platform behind USD stablecoind DAI, uses the Ethereum blockchain, allowing the Dai stablecoin to be fully inspected by anyone and eliminating the need for a central organization to verify transactions. Dai is therefore also seen as a decentralized alternative to the centralized Tether. MKR is a cryptocurrency that is built on the Ethereum blockchain. Its purpose is to stabilize the value of DAI through smart contracts called Collateralized Debt Positions (CDP). When the smart contract life ends, the MKR token is gone. MKR can be sent and received through any Ethereum account or smart contract programmed to use the MKR transfer function. It is more stable than most currencies in the market because of the way it is valued. Dai is pegged to the US dollar, which means that 1 DAI = US $1. The currency is managed autonomously through smart contracts that adapt and respond to market dynamics, ensuring that the currency is tied to the USD. In this way, it provides traders with stability regardless of the market condition. The Dai coins are therefore stable and linked to the USD. On the other hand, the MKR token is free to move in price and increases in value in accordance with an increase in usage. You can use MKR to pay for the costs incurred on CDPs that generate Dai in the Maker system, and as the demand for Dai and CDPs increases, so should the demand for MKR. In addition, when stability costs are paid with MKR, the issued MKR is permanently destroyed. This decreases the overall MKR supply, increasing its value. PAXGPax Gold is the first digital asset to be backed by physical gold bars. PAX Gold is a Paxos Standard Token from the Paxos Trust Company in America. The design is based on the ERC-20 token protocol of the Ethereum platform. This gold-backed token combines all the benefits of a crypto asset and gold on account without any storage fees. In fact, PAX Gold resolves a contradiction in the gold market: being able to own physical and share and trade gold with ease. PAX Gold tokens represent 1/400 part of a numbered gold bar. It is a 400 oz tokenized gold bar certified by the LBMA (certified London Good Delivery bars). Vault storage and security is provided by Brink's in London. PAX Gold can be traded instantly and cheaply 24 × 7 on the Ethereum blockchain. It is also divisible to 18 decimal places making it accessible to everyone. Finals wordsStablecoins offer an excellent opportunity to hedge against volatile or bear markets. It is up to the investors to choose which stablecoin they want to invest in. One thing is sure: the crypto market offers plenty of choice.
EDIT: Typos [link] [comments]  | ||
| Bitcoin Dominance Drops to 50% For The First Time in 33 Months Posted: 25 Apr 2021 10:30 PM PDT
 | ||
| PayPal CEO: Demand for Crypto has been multiple-fold of what we expected Posted: 25 Apr 2021 09:15 AM PDT | ||
| Posted: 25 Apr 2021 12:31 PM PDT
 | ||
| A guide to replacing your full time job with Reddit MOONs Posted: 25 Apr 2021 03:30 AM PDT this is in no way shape or form a good idea, just thought i'd post this here because it's 6am and im doing fucking math on reddit crypto lmao. Anyways, right now a moon is worth about 8 cents. If you wanted to replace your full time job with raking in moons on reddit, it would take a lot of time and effort but here we go. The average hourly wage in the USA is ~$15. This means that at that wage you are making about 31,000 dollars a year. Now, going off of the math of 1 upvote = 0.48 moons (credit to /u/pkg322 because i saw that on one of their comments.), this means that 1 upvote is just under 4 cents. Now, your yearly wage of 31,000 dollars divided by 8 cents (1 moon) means that you would need to acquire a total of 387,500 moons per year in order to sustainably replace your full time job. This is also equivalent to... - 32,291.67 moons per MONTH - 1061.64 moons per DAY - 44.24 moons per HOUR This also means that you need ~90 upvotes per hour to replace your full time job. have fun with this knowledge bois EDIT: I have learned there is a cap of 15k moons per month per account, this is still equivalent to $1.2k per month. Pretty pog. Update: haha, 30 upvotes in the past hour.. that's like a whole moon.. my ploy to become the greatest moon farmer is coming to fruition! Update 2: ok for real y'all are making me rich out here, also thanks for the awards friends! Update for everyone saying "you have to farm 24 hours a day this is stupid": You only need to post a few good posts and then people can upvote it at any time... It doesn't just disappear lol [link] [comments]  | ||
| Unpopular opinion: people in here are as greedy as the banks they hate Posted: 25 Apr 2021 08:51 AM PDT Look, I love crypto. I love the idea of a decentralized financial system. I can see what is wrong with banks. But people here are spitting on banks and other financial institutions because they are these huge greedy monsters that only want to take everybody's money. At the same time everyone is jumping into every single fucking scam-, pump- or memecoin hoping they can make thousands of dollars in a day. Some even say scams are not a problem because "yes they are scams but if you get out in time you can still make profit". Crypto is a zero-sum game: every single dollar you potentially gain, is lost by someone else. It's ridiculous and hypocrite how some people here don't even realize they are showing the exact greedy behaviour they are accusing the banks of, at the cost of others. EDIT: To be clear, I'm not a saint. Obviously I'm also here for the money like everyone else. But my point isn't so much judging greed, it's judging hypocrisy. It is about being a hypocrit when you judge banks for taking peoples money without caring that they get fucked, while at the same time massively pumping and supporting scams just to take peoples money without caring that they get fucked. [link] [comments]  | ||
| Advice to young people starting out in the space. 10 years is not what you think it is. Posted: 26 Apr 2021 02:16 AM PDT TLDR: HODL with a purpose and your overnight gains will come. As you grow older, you realize that 10 years feels like yesterday. Whereas when you are young, you make big plans and think that 10 years is all it takes for the average person to succeed in life. Well, I am sorry to rain on your parade, but for most people, it takes more than just 10 years to become financially independent to the point that they can start enjoying life to some extent. The point I am trying to make is, don't chase overnight gains, you will lose your sanity and your money. I am putting sanity first because it can't be bought. 10 years from now, and even better, 20 years from now you have the chance of looking back at your net worth and realize that it only took you 10 or 20 years, which at that point will seem like overnight. [link] [comments]  | ||
| Posted: 25 Apr 2021 11:46 PM PDT From Nickelodeon and IGN forums in the late 90s and early 2000s all the way to various Subreddits in recent years, posting on forums is something I've always done. Never did I think it's something I could actually get paid for. The concept of Moons is really pretty fascinating and the whole idea - especially its implementation - is quite incredible. Yes, $0.08 isn't a lot, but for doing something we'd already be doing? Pretty cool! Here's to hoping other online communities learn from this. [link] [comments]  | ||
| Cardano and Stellar Lumens Hit Milestone As Swiss Investment Fund Launches New Crypto ETPs Posted: 25 Apr 2021 04:25 PM PDT
 | ||
| Unpopular opinion: I don't think holding on exchanges is that bad Posted: 25 Apr 2021 03:01 PM PDT We have all heard it before "Not your keys, not your coins". It's almost the number one rule in Crypto. However I don't believe it's that "big" of a deal. First off, for small bag holders, the fees in transfering to wallet eats a good chunk of the coin. It does not make financial sense to 50 or so bucks on 100$ of coin. The risk of losing key access also becomes mitigated. The biggest concern is security and rug pulls, but more and more exchanges are becoming established entities. At the early stages of adoption where Crypto is being treated as a investment rather than use, I don't think holding on exchanges is that bad and I think it makes more sense than a wallet (if fees are in play). EDIT: Forgot about the Tax Implications of "liquidating" (I.e moving coins from exchange to storage) coins from exchange. This could potentially cut into profits even more! *Depending on your country [link] [comments]  | ||
| We're recovering from the dip in less than a week! Posted: 26 Apr 2021 03:03 AM PDT I hope for anyone that panicked during this dip can see that it's always best to hold and ride it out. The beauty of crypto is in it's volatility as well as it's huge forward momentum. If the stock market crashed the same way crypto did with a lot of coins dropping 25% or more, I bet it would take a lot longer to recover and there would be more widespread media surrounding it as well as mass FUD. Hopefully some of you managed to buy the dip (I couldn't :'() and are sitting on nice profits now! TL:DR: Crypto is volatile but has a tendency to recover from any dips very quickly, people need to try focusing on long term gains. [link] [comments]  |
| You are subscribed to email updates from Cryptocurrency News & Discussion. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment